Deyaar Development PJSC, one of the UAE’s largest property development and real-estate services companies is holding a roadshow in Nairobi as part of the efforts to target the growing number of Kenyan investors buying property in the UAE. The roadshow took place on Saturday 25th February 2017 at the Kempinski Villa Rosa Hotel from 9:30 AM onwards with serious investors on attendance.
The move follows similar events in other developing countries where Deyaar has showcased an off-plan portfolio of properties in Dubai. The Nairobi roadshow presented a selected portfolio in Deyaar’s premium product the Millennium Deyaar Atria Residences in Dubai.
The Atria consists of a 30-storey residential tower and a luxury serviced apartment tower in Business Bay – an exciting social and commercial hub with views of the Dubai Water Canal and the world tallest tower, Burj Khalifa. The Atria’s interiors are designed by YOO Studio, an international design house.
Mont Rose, comprising two residential towers and a hotel-apartment tower in Dubai’s Al Barsha South, as well as Midtown, a new integrated urban community in Dubai Production City where Deyaar will also be part of the showcase during the event.
Many wealthy Kenyans have properties abroad, and Dubai is second only to London as their top global real estate location. The UAE’s tax-free status, as well as the stable political environment and well-diversified economy, make it a leading overseas investment destination. At 8,500, Kenya has the fourth highest number of dollar-millionaires in Africa, with that number expected to rise sharply over the next decade. Meanwhile, the Kenyan economy is expected to continue growing steadily at about 5% annually.
Said Nasser Amer, Vice President Sales at Deyaar “Since the property sector stabilized, we’ve seen more Kenyans investing in Dubai properties as they see it as a safe and tax free haven which offers attractive returns. In 2016 we saw 80% occupancy rates for hotels in Dubai.
Millennium Deyaar Atria Residences offers an opportunity for the investor to either buy to live in or buy to invest whereby Millennium & Copthorne will professionally manage the units as part of their hotel apartment portfolio. Business Bay area, where our property is located, was one of Dubai top 5 sales areas in 2016 with investments worth USD 1.68 Bn.”
Said Mona Al Tamimi, VP Marketing and Corporate Communication, Deyaar, “Kenya is a key investor market for Deyaar, as it’s considered a regional investment hub with a growing affluent class. We have noted that Kenyan investors are increasingly looking out for investments which offer unique value opportunities. At Deyaar we consider ourselves an industry partner for the future of the UAE, playing a role in shaping an economy and society that meets the high standards set by the nation’s leaders.”